Tether continued its determination in the fight against illegal activities and provided assistance to law enforcement. The company aims to protect the integrity of the financial ecosystem by cooperating with the United States Secret Service and the Federal Bureau of Investigation.

Tether, the largest company in the cryptocurrency industry, remains committed to combating illegal activities and providing support to victims through assistance to law enforcement. As stated in a US Department of Justice press release, Tether has once again helped law enforcement thwart bad actors and compensate victims.

In line with its commitment to protecting the integrity of the financial ecosystem, the brand has recently included the United States Secret Service in its collaboration platform and will also work with the Federal Bureau of Investigation. This strategic initiative aims to provide significant support to victims affected by crimes investigated by the U.S. Department of Justice. Tether remains committed to working in concert with law enforcement to combat bad actors and contribute to the recovery of victims.

The company’s CEO, Paolo Ardoino, said in his statement underlining the company’s stance: “Tether remains committed to supporting the efforts of law enforcement and helping compensate victims. We condemn the misuse of USDT or any cryptocurrency for illegal purposes. We are very determined to prevent these activities. In this regard, we are in constant cooperation with the police forces.”

The resignation news of Binance CEO CZ, which hit the market agenda after Tuesday evening and spread rapidly, and the impact of the case between the Binance exchange and the US Department of Justice on the cryptocurrency market seem to have been short-lived at first. The cryptocurrency market, which lost nearly 5% in value on Tuesday, took back what Bitcoin had given and rose above $ 37,000 again.

The most striking development in the cryptocurrency market yesterday was the spotlight of Grayscale, one of the world’s largest fund management companies. Bitcoin He updated the ETF application and submitted it back to the SEC. Then, senior SEC officials met with Grayscale’s CEO and exchanged ideas on the proposed rule change for its listing and trading. First impressions are that the process is on a more positive path compared to the previous one. As we stated in yesterday’s bulletin report, we think optimism about ETF increased after the agreement between Binance and the US government.

Fed minutes were followed as a development that can be considered important on the macro agenda. After the minutes of the last meeting announced that they adopted a cautious approach in the course of monetary policy, the markets came to the conclusion that the interest rate increase process has come to an end. Following the meeting minutes, Bitcoin rose along with the stock markets. Many altcoins have returned over 10% to their investors.

The most important agenda item in local markets today will be the Central Bank’s interest rate decision. In the decision to be announced at 14.00, the policy rate is expected to be increased from 35% to 37.5%. Depending on the decision to be announced, new peaks may be seen in the Bitcoin / TL parity, depending on the change in the Dollar / TL exchange rate.

While the rally in altcoin markets continues, there is consolidation and uncertainty in Bitcoin markets due to fear of a pullback. The US Securities and Exchange Commission’s postponement of ETF applications creates a cautious atmosphere in the markets, but many people predict that the Fed’s ETF approval will occur in the near future.

last week BitcoinDespite ‘s attempt to overcome the $38,000 resistance for the second time, the 8.7 percent decline in Cumulative Volume Delta and short sales was short-lived as heavy profit taking took place from certain limit sales orders in the spot market.

While Bitcoin’s transaction price is currently hovering around its opening price in early November, the upward movement is gradually losing its strength due to the positive funding rates seen in futures contracts and the selling pressure arising from the desire of short-term holders of BTC to make a profit.

Currently, the age range of short-term Bitcoin investors has expanded. While there has been a 120 percent increase in BTC prices since the beginning of the year, it is observed that the short-term Bitcoin asset ratio is lower. This reveals that those who hold Bitcoin as a long-term investment have a higher concentration of available goods. With the approach of the fourth BTC halving, expected in April 2024, a significant tightening in Bitcoin supply is observed. Current supply and supply storage rates indicate that long-term investors have significantly outpaced the new BTC supply.

Long-term investors’ halving expectations are increasing

As the fourth BTC halving, expected in April 2024, approaches, there is a significant tightening in Bitcoin supply. Current supply and supply storage rates indicate that long-term investors are accumulating at a rate that far exceeds the new Bitcoin supply. This strengthens the scenarios that the supply will decrease as the halving approaches. Additionally, the rise in mining fees stands out as an important indicator that the Bitcoin ecosystem is still in a strong state. As we approach the halving, which will take place in the second quarter of 2024, it is important to follow the rise in wages.

SEC’s decision on ETF applications postponed

According to the latest news from the crypto world, the US Securities and Exchange Commission (SEC) has postponed its decision regarding Hashdex and Grayscale’s ETF applications, which are very important for the markets. This indicates that regulatory oversight will continue while a cautious approach is taken towards this instrument.

However, many people think that the Fed’s ETF approvals will happen in the near future. ARK Invest CEO Cathie Wood predicts that the total market value of crypto assets will rise rapidly from $1 trillion to $25 trillion by 2030 and likens the potential of crypto assets to the beginning of the internet age. On the business front, Bakt announced that it is expanding its portfolio of assets held in cryptocurrency, while the Monetary Authority of Singapore is making plans to issue a central bank digital fiat currency for mass payments.